News // 29 January 2020
What’s to come for Business Travel in 2020
Global Business Travel was valued at $1.308billion in 2018 & is projected to reach $1.771billion by 2026.
With a new decade stretching ahead, here are some of the key trends set to shape and define the future of the travel industry.
Airports and airlines such as Heathrow, Gatwick, BA and Delta have already been installing facial recognition as a way of replacing passport and boarding pass checks. Now we are seeing it appear in hotels as a way of bypassing check-in queues. In China, facial recognition is already being embraced with gusto by authorities and hotels such as Alibaba’s FlyZoo in Hangzhou, where you can pay for food and open doors with a smile.
With speeds set to be as much as 100 times faster than 4G, 5G will make our daily digital business activities considerably quicker. Our offices and cars will be linked to the internet, all creating greater efficiency and productivity. Furthermore, when travelling on the road for business, connectivity will be faster as well as the type of applications available for use.
There are currently around 3,000 different cryptocurrencies being traded around the world to the value of billions. This decade could see a greater move towards a cash-free culture as travel companies start to accept bitcoin payments.
In 2020, a new generation of travellers will be coming of age (the oldest will be 25 this year) and entering the job market. Born between 1995–2000, Generation Z is estimated to be worth US$200 billion to the global travel industry.
The Latest Accommodation for 2020
The new decade will see a selection of new hotels well-suited to the business traveller.
- Hotel Brooklyn, Manchester
Opening in February Hotel Brooklyn, in its Victorian brownstone building, features 189 rooms styled from the New York Brooklyn borough.
- The Londoner, London
This central, Leicester Square hotel will span 16 floors with 350 rooms and suites, plus two screening rooms, various bars and restaurants, a rooftop terrace and a ballroom; plenty of choice for business travellers come opening in June.
- citizenM, Washington DC Capitol
A specific business hotel to be added to the Washington hotel market, citizenM will offer 8 spacious meeting rooms, 24 hour hour food and drink as well as a rooftop bar and terrace. All 252 rooms will be available in July.
- Tokyo Edition, Toranomon
Situated within a mixed-use scheme of office and residential buildings, as well as a medical centre, Marriott International’s 206 room Tokyo Edition hotel will debut this summer.
- The Westbund, Shanghai
Also coming in 2020 is Rocco Forte’s Westbund hotel, which will occupy the highest levels of the West Bund’s newest tower. It will feature 219 rooms, a spa and an al fresco bar on the 52nd floor.